Washington Trust Bancorp, Inc. (WASH) Receives Consensus Rating of “Strong Buy” from Analysts
Washington Trust Bancorp, Inc. (NASDAQ:WASH) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating. Washington Trust Bancorp’s rating score has improved by 50% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Analysts have set a twelve-month consensus price target of $61.00 for the company, according to Zacks. Zacks has also given Washington Trust Bancorp an industry rank of 109 out of 265 based on the ratings given to related companies.
Separately, BidaskClub raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.
Shares of Washington Trust Bancorp (NASDAQ:WASH) traded up 3.68% during trading on Tuesday, hitting $59.10. 73,145 shares of the stock traded hands. The firm’s 50-day moving average price is $53.34 and its 200-day moving average price is $51.19. Washington Trust Bancorp has a 12 month low of $39.60 and a 12 month high of $59.10. The stock has a market cap of $1.02 billion, a PE ratio of 20.66 and a beta of 0.75.
Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Washington Trust Bancorp had a return on equity of 12.43% and a net margin of 23.86%. The firm had revenue of $46.71 million during the quarter. Analysts anticipate that Washington Trust Bancorp will post $2.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be paid a $0.39 dividend. This is a positive change from Washington Trust Bancorp’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.56 annualized dividend and a yield of 2.64%. Washington Trust Bancorp’s dividend payout ratio is currently 54.55%.
In other news, Chairman Joseph J. Marcaurele sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $52.80, for a total transaction of $264,000.00. Following the transaction, the chairman now owns 57,583 shares in the company, valued at $3,040,382.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 5,205 shares of company stock worth $274,607 in the last 90 days. Corporate insiders own 2.58% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in Washington Trust Bancorp by 1,825.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,696 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 2,556 shares during the period. RB Capital Management LLC bought a new position in Washington Trust Bancorp during the 2nd quarter worth $200,000. Boston Private Wealth LLC bought a new position in Washington Trust Bancorp during the 2nd quarter worth $202,000. Susquehanna International Group LLP bought a new position in Washington Trust Bancorp during the 2nd quarter worth $202,000. Finally, HM Payson & Co. bought a new position in Washington Trust Bancorp during the 2nd quarter worth $203,000. Hedge funds and other institutional investors own 55.31% of the company’s stock.
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Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.
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